If you are purchasing a business, make sure there are no hidden liabilities, including tax liens or unpaid unemployment taxes. Request a copy of the seller's Conditional Tax Clearance Request letter and obtain a financial statement about the business, including outstanding debts, from the Uniform Commercial Code website. You may also want to contact the Michigan Unemployment Insurance Agency to obtain information on successor liability.
Contact the Hillsdale County Register of Deeds to check for possible liens against the property you are purchasing.
Check with the city/township or village in which your business will be located to see if they have any special incentives, like tax abatements or facade grants.
Do not be afraid to seek assistance from a qualified tax or financial planning professionals regarding possible tax implications related to the type of business structure you have chosen.
Become part of the Chamber family. Once you've launched your business, the benefits of Chamber membership can help you grow and sustain your business.
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